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A certain research institution pointed out that Bitcoin briefly pulled back after breaking through 120,000 USD, gaining support around 114,000 USD. The US dollar index has fallen 10% this year, driving strong performance in dollar-denominated assets, including US stocks, gold, and Bitcoin. Currently, the dollar has a rebound risk; if the dollar rises quickly, it may lead to a synchronous pullback in risk assets. In addition, the institution maintains a structurally bullish view on BTC, believing that if it pulls back to 11